ICZOOM Group Inc. (NASDAQ:IZM) Sees Large Drop in Short Interest

ICZOOM Group Inc. (NASDAQ:IZM) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 158,864 shares, a decline of 49.6% from the June 15th total of 315,481 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average trading volume of 133,364 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of ICZOOM Group in a research note on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, ICZOOM Group presently has an average rating of “Sell”.

ICZOOM Group Stock Performance

NASDAQ:IZM traded down $0.02 on Friday, reaching $0.28. 87,767 shares of the stock traded hands, compared to its average volume of 1,362,495. ICZOOM Group has a 1-year low of $0.26 and a 1-year high of $2.74. The company’s 50 day moving average is $0.38 and its 200-day moving average is $0.76.

Institutional Investors Weigh In On ICZOOM Group

Several large investors have recently modified their holdings of IZM. Susquehanna International Group LLP bought a new position in ICZOOM Group during the third quarter worth $57,000. XTX Topco Ltd acquired a new stake in ICZOOM Group during the 4th quarter worth about $48,000. Finally, Jane Street Group LLC bought a new position in shares of ICZOOM Group in the 4th quarter worth about $45,000. 34.25% of the stock is currently owned by institutional investors and hedge funds.

ICZOOM Group Company Profile

iCZOOM Group (NASDAQ:IZM) operates as a China-based industrial equipment manufacturer focused on the design, development and sale of advanced CNC machine tools and integrated automation systems. Through its subsidiary network, the company delivers precision machining solutions for a variety of manufacturing processes, from heavy-duty milling to high-speed drilling and tapping.

The company’s product lineup includes large-scale gantry CNC machining centers, horizontal and vertical machining centers, multi-axis CNC milling machines, precision metal cutting equipment and turnkey automated production lines.